Berkadia Closes Sale of Historic Community in San Diego
The asset is located in the historic neighborhood of Bankers Hill.
By Ioana Moldovan
Tyler Sinks
San Diego—Berkadia recently announced the sale of Bankers Hill Apartments, a historically designated community located in San Diego. Berkadia Associate Director Tyler Sinks negotiated the $1.9 million deal, representing the seller.
Situated in the heart of the Bankers Hill neighborhood, the two contiguous four-plex properties feature one-bedroom plus den units with original Craftsman-style interiors, hardwood flooring and wood built-ins, large open floor plans, walk-in closets and gas stoves. Community amenities include on-site storage, courtyard, gated entrance and barbecues. The neighborhood, which is also known as Park West, is bordered by Balboa Park, Hillcrest, Little Italy and Midtown, offering access to many restaurants, shopping and entertainment options.
“The Bankers Hill Historic Apartments offer an excellent opportunity for huge rental upside and cash flow potential,” said Sinks in prepared remarks, “Furthermore, the property’s historical designation allows a new investor to apply for favorable property tax savings provided under the Mills Act,” he added.
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